Also found in: Acronyms.
Paris Interbank Offer Rate
The average interest rate participating French banks offer each other for unsecured loans. While not as prominent as LIBOR or EURIBOR, it serves as a benchmark for some euro-denominated forward rate agreements and interest rate swaps. Interest rate futures and options based on PIBOR are traded on Euronext Paris. See also: Frankfurt Interbank Offer Rate.